Tenneco Clean Air India (TENNIND) Q3 25/26 earnings summary

Executive summary

• Q3 and 9M FY2026 saw robust revenue and margin growth, driven by technology adoption, new product launches, and strategic business wins, including the DaVinci DCx suspension system and Clean Air program with leading OEMs.

• Order book provides 100% revenue coverage through FY2028, supporting double-digit CAGR visibility for the next three years.

• Board approved a new Clean Air greenfield plant in Kharkhoda, Haryana, to support growth and customer proximity.

• Approved unaudited standalone and consolidated financial results for Q3 and 9M FY2026, following a limited review by statutory auditors.

• Equity shares listed on BSE and NSE on 19 November 2025 after an IPO of 90,680,100 shares at INR 397 per share.

Financial highlights

• Q3 FY2026 consolidated revenue from operations was INR 12,853 million, up 14.2% year-over-year; value-added revenue reached INR 11,941 million, up 15% YoY.

• Q3 EBITDA was INR 2,225 million, a 25% increase YoY, with EBITDA margin at 18.6%; Q3 PAT was INR 1,188 million, impacted by a one-off labor code charge.

• For 9M FY2026, revenue grew 8.1% to INR 38,515 million, value-added revenue up 10.3% to INR 35,122 million, and EBITDA up 12% to INR 6,682 million.

• Standalone revenue for Q3 was INR 5,073.83 million, with standalone net profit at INR 601.04 million.

• Other income in standalone results includes INR 8,958.87 million dividend from subsidiary in 9M FY2026.

Outlook and guidance

• Order book ensures full revenue coverage through FY2028, with clear double-digit CAGR visibility for the next three years.

• Export share in the order book has increased to over 20%, with further growth expected due to tariff reductions in the US and EU.

• New greenfield plant in Kharkhoda, Haryana, to support future growth, with production starting Q3 FY2027.